BuzzFeed, Inc. entered into a Share Purchase Agreement on September 23, 2026, with Allen Family Digital, LLC, an affiliate of Byron Allen’s family office. Under the terms of the agreement, the Purchaser agreed to buy 4,300,000 newly issued shares of the Company’s Class A common stock. The shares were sold at a price of $1.09 per share, which was determined to be the closing price of the stock on September 22, 2026, as reported by The Nasdaq Stock Market LLC. The transaction is expected to provide the Company with approximately $4.7 million in gross proceeds.
The transaction is classified as a related party deal because Mr. Byron Allen Folks, the Chairman of BuzzFeed’s Board of Directors and the Founder, Chairman, and CEO of Allen Family Digital, is both a controlling shareholder of the Company and a party to the agreement. Mr. Folks disclosed his interest in the transaction and abstained from voting on or approving it. The Company’s audit committee approved the related party transaction in accordance with the Company’s related party transaction policy. Additionally, four disinterested directors reviewed the agreement and determined in good faith that the terms were fair and reasonable to the Company and its stockholders. The approval granted for a transaction on September 11, 2026, also covered this specific agreement.
The issuance of the shares is exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2). The Share Purchase Agreement is attached to the filing as Exhibit 10.1.
